False. Many
store brands give you exactly the same product, for less money.

3.In
Maryland, a business can refuse to refund your money if you want
to return something, even if you have the receipt. True or False?

True. While many stores do accept
returns and will refund your money, they are not required to. A store
may choose
not to accept returns or
to set conditions for returns, as long as it makes its policy known to
consumers.

4.If
you buy a mountain bike for $1,000 with a credit card charging 18%
interest, and only make the required "minimum payment of about
2% each month, how long do you think it will take you to pay off
the bike?

a. 3 years
b. 5 and a half years
c. 12 years and 9 months

C. 12 years and 9 months. And you will have paid $2,115
total for the bike! Don’t fall into the “minimum payment trap.” Paying
only the minimum benefits the credit card company, not you.

5.Brittany
saw an ad: "Teen Models Needed! Auditions Saturday." She
went to the audition and was very excited when they told her that
she was"just the type they were looking for." However,
they said she needed to take some modeling lessons first--which
they could provide. They urged Brittany and her mom to sign a contract
for $1,200 worth of lessons. What useful advice should Brittany
follow in this situation?

a. Be skeptical. Don't sign the contract.
b. Strike while the iron is hot. Don't miss a once-in-a-lifetime opportunity.
c. Follow the crowd. If the other teens at the audition are signing up, she should
too.

A. Be skeptical. If you’re interested, take the contract home
and do some homework on the company. Many teens have paid for modeling
lessons or “portfolio photos” only to find out the company
was not a modeling agency at all.

6.If
a label says a product is "all-natural" or "herbal," you
know that it is safe to use. True or False?

False. “Natural” substances can be toxic
or cause allergic reactions. For example, several people have died using
weight loss products
containing ephedra, a natural substance.

7.Which
of these is the best deal?
a. T-shirts: Buy one at $16, get another at 50% OFF!
b. T-shirts: $12 each
c. T-shirts: Buy two for $18 each, get ONE FREE!

B. They all average out to $12 per shirt–but with Offer B you
can buy just one. Always do the math on “get one free” offers
so you don’t have to buy more than you need trying to get a “bargain.”

8.Take
a guess: If you smoked a pack of cigarettes a day, and a pack cost
$7.50, how much would smoking for five years cost you?

a. $2,000
b. $8,250
c. $13,500

B. It would cost you $13,500.

9.Getting
a tattoo isn’t such a big commitment anymore since laser removal
is now available. True or False?

False. Lasers are a big improvement over previous methods of removing
tattoos, but it can cost $1,000 or more and require several painful visits
over a year or longer.

10.Buy
a new car and you won’t have to spend money on repairs or maintenance
for the first few years. True or False?

False. A new
car probably won’t need parts replaced as an
older car might, and most repairs will be covered under a warranty. However,
you’ll still have to pay for things like oil changes, tire punctures,
air filters and accident deductibles.

11."Identity
theft” is what happens when:

a. A boy agrees to take a geometry test for his identical twin brother.
b A hospital mixes up two newborn babies and sends them home with the wrong parents.
c. Someone uses your name, Social Security number and other information about
you to open credit accounts or buy cars.

C. It’s
important to guard personal information like your Social Security number
or bank account number, so crooks can’t
use them to pretend to be you!

12.Buying
an item from another person through an Internet auction site, such
as eBay, is just as safe as buying something from a store. True or
False?

False. Person-to-person
transactions have very few protections under the law. When you do business
with someone through an online auction,
realize that you are taking a risk.